Thu, Mar 08, 2018 - Page 13 News List

How a fear of ghosts leads to callous acts

Homeowners are committing all manner of heartless acts to avoid their homes becoming haunted, and this is bearing a direct impact on the housing and insurance market

By Noah Buchan  /  Staff reporter

“Few can seek compensation,” Ingrid Lin says. “When a house becomes a xiongzhai it loses at least 30 percent of its value. The homeowner is unable to be compensated for this loss, and consequently must sell the home at a significantly reduced price.”

Since it introduced the commodity in 2016, the insurer has sold over 11,000 policies.

And they can only expect to sell more as Taiwan’s suicide rate remains high and property owners refuse to help out.

“Taiwanese believed in xiongzhai 30 to 40 years ago, and they will believe in xiongzhai 30 or 40 years into the future,” Liu says.

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